-
Donald Trump’s address at the World Economic Forum in Davos was notably more measured than his rhetoric of recent days. The President stated he has no intention of using force in his pursuit of Greenland, though he pointedly refused to abandon the acquisition plan.
-
The absence of any mention of new tariffs or controversial domestic policies—such as credit card interest rate caps—sparked a relief rally on Wall Street following yesterday’s aggressive sell-off.
-
US equity futures saw a decisive bid. The US500 climbed as much as 1% earlier in the day, marking its strongest potential daily gain since late November. However, with two hours of cash trading remaining, the contract has pared gains to 0.4%.
-
Broader US indices are also trending higher. The tech-heavy US100 is up 0.5%, while the small-cap US2000 and the Blue-Chip US30 have both advanced by more than 0.4%.
-
European markets fared less well. The DE40 (tracking the German DAX) shed 0.3% today. Conversely, the UK100 gained 0.5%. Asian markets saw more robust activity, with the JP225 rallying more than 1% during the session.
-
Netflix earnings proved a focal point for Wall Street. While fourth-quarter results were broadly in line with expectations, the company’s guidance for Q1 and the full year 2026 disappointed. Management also unveiled a revised all-cash bid for Warner Bros and suspended share buybacks to preserve capital. Netflix shares, which plunged over 7% in pre-market trading, are currently down 4%; the stock has now lost more than a third of its value since its all-time high.
-
Ongoing geopolitical uncertainty supported precious metals, though only gold and platinum maintained gains of over 1% through the day. Gold touched nearly $4,900 per ounce, bringing its year-to-date return to over 12%.
-
New forecasts suggest gold could reach $7,000 should tariff-related turmoil—specifically regarding Greenland—persist. Despite the partial restoration of market calm, gold remains underpinned at elevated levels.
-
Silver retreated by 1.3% to $93 per ounce. Pressure is mounting not only from upcoming futures contract deliveries but also from fears of demand destruction in the solar sector. Bloomberg NEF reports that silver’s share of photovoltaic panel costs has surged from roughly 3% in 2023 to nearly 30% today, warning that margins may turn negative if silver sustains prices above $100.
-
Natural Gas (NATGAS) prices surged a staggering 22% as forecasts of a weekend "cold snap" threatened to spike demand and freeze production infrastructure in Texas. This has created extreme backwardation, with the February contract trading at a premium of more than $1 over March.
-
The EURUSD pair saw its weekly gains capped at just over 1%, testing the 1.17 level. Treasury Secretary Scott Bessent sought to reassure investors, stating there are no concerns regarding the stability of US debt and no rational basis for a sell-off of Treasuries by European institutions.
-
Commodity currencies outperformed against the Greenback, led by the New Zealand Dollar (NZD), which investors view as geographically insulated from the US-Europe friction. Analysts note, however, that New Zealand’s interest rates currently remain lower than those in the US or Australia.
-
The Yen remained steady despite a historic surge in Japanese yields. The 40-year JGB yield breached 4% for the first time, driven by the ambitious spending plans of the Sanae Takaichi administration. Market consensus now suggests the Bank of Japan may be forced into as many as three interest rate hikes in 2026.
⏫US500 climbs over 1%
US OPEN: Trump pivot lifts Wall Street sentiment
Market Wrap: Wall Street and Europe lose ground; markets await Trump in Davos🛣️
Gold surges 2% 📈Is a pullback in precious metals close?
The content of this report has been created by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, (KRS number 0000217580) and supervised by Polish Supervision Authority ( No. DDM-M-4021-57-1/2005). This material is a marketing communication within the meaning of Art. 24 (3) of Directive 2014/65/EU of the European Parliament and of the Council of 15 May 2014 on markets in financial instruments and amending Directive 2002/92/EC and Directive 2011/61/EU (MiFID II). Marketing communication is not an investment recommendation or information recommending or suggesting an investment strategy within the meaning of Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse (market abuse regulation) and repealing Directive 2003/6/EC of the European Parliament and of the Council and Commission Directives 2003/124/EC, 2003/125/EC and 2004/72/EC and Commission Delegated Regulation (EU) 2016/958 of 9 March 2016 supplementing Regulation (EU) No 596/2014 of the European Parliament and of the Council with regard to regulatory technical standards for the technical arrangements for objective presentation of investment recommendations or other information recommending or suggesting an investment strategy and for disclosure of particular interests or indications of conflicts of interest or any other advice, including in the area of investment advisory, within the meaning of the Trading in Financial Instruments Act of 29 July 2005 (i.e. Journal of Laws 2019, item 875, as amended). The marketing communication is prepared with the highest diligence, objectivity, presents the facts known to the author on the date of preparation and is devoid of any evaluation elements. The marketing communication is prepared without considering the client’s needs, his individual financial situation and does not present any investment strategy in any way. The marketing communication does not constitute an offer of sale, offering, subscription, invitation to purchase, advertisement or promotion of any financial instruments. XTB S.A. is not liable for any client’s actions or omissions, in particular for the acquisition or disposal of financial instruments, undertaken on the basis of the information contained in this marketing communication. In the event that the marketing communication contains any information about any results regarding the financial instruments indicated therein, these do not constitute any guarantee or forecast regarding the future results.
